With the 10 year bond opening this morning at (and maybe below) a yield of 3.25%, mortgage rates will be more attractive than they have been this year.
REALTORs: If your buyer is sitting on the fence, tell them that this low-interest-rate opportunity will likely evaporate once the Big Three learn their fate. Whether the congress gives auto industry money, or hangs them out to dry, the bond market is likely to consolidate its gains, and that means that this little mini-boom in financing will be over.
BUYERS: There's no better place to put your money to work for you than real estate right now, IHMO.
I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Think of me as your Tucson mortgage expert.
(520) 349-9090
Mike,
This is certainly good news, and I for one am spreading the good news...!!! Thanks, Fran
Fran,
Thanks for being the first to comment!
Mike in Tucson
Thanks for the update Mike! I've got a few buyer's that are on the fence... hopefully, this will be the kick in the rear they've needed!
Kurt,
All the best!
Mike in Tucson
So many good things still going on too bad the news keep such a focus on the negative. I agree we will be in a much better place soon. Higher interest rates will follow the growth.
Terry,
It's a good time for buyers. Many can't believe that. They'll look back and talk about Should'a, Could'a, and Would'a. Go get em!
Mike in Tucson
I'm waiting for some big sales on some high performance Mustangs, Camaros, Corvettes, etc. Good ol' American muscle car type power. I just might trade in my Toyota Camry.
Russel,
Now that gas is down to $1.69, you'll be able to afford to drive some of those! LOL
Mike in Tucson
Good post, good information, as usual. Thanks for the update, Mike. (P.S. Gasoline was at $1.51 here in Des Moines this morning; one of our local mega-groceries has a gas island. On Thursdays, if you bring a receipt from their store and pay cash, you get a 14 cent discount. Gas at $1.37 per gallon... almost affordable!)
Ken Tharp, Iowa Equity Exchange
Ken,
Send some of that cheap gas our way, will you please? LOL
Mike in Tucson
How much is gas in Tucson Mike?
Hell Mike, wishing you and your family a very Happy, Healthy & Blessed Thanksgiving.
Brian, Southern New Jersey gas in Cumberland County is $1.53. I paid that last night. I was in Myrtle Beach, SC on Monday and drove back to New Jersey. South Carolina running about $1.75, North Carolina around the same. Virginia $1.72, Maryland around the same. Delaware $1.68. Even tho NJ is a bit cheaper in gas we pay out our A-- for real estate taxes & auto insurance.